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Court's say on budget matters could be limited till state debt falls under 50% of GDP

Among the proposed changes to a draft of Hungary's new constitution submitted by the deadline on Monday is one that limits the Constitutional Court's say on taxes on fiscal matters until Hungary's state debt falls under 50% of GDP.

The change was submitted by governing Fidesz-KDNP, whose MPs enjoy a two-thirds majority in Parliament.

Another change, submitted by state secretary at the Prime Minister's Office Mihály Varga, would include a clause in the constitution making the forint the official currency of the country.

The inclusion of the clause would require a constitutional amendment if the country adopts the euro.

Prime Minister Viktor Orbán said earlier that Hungary's eurozone entry is “unimaginable” before 2020.

On the basis of national consultations, a clause could be inserted in the constitution stating that all farm land, water supply, forests and native plant and animal species constitute a common national heritage which the state and all of its citizens are required to defend.

Another change would require a two-thirds majority in Parliament to make changes to legislation on the central bank.